Please add few text also to your analysis, so that novice like me can also get some benefit from these charts
hi,
well, in general, the elliot wave suggests the following:
Nifty - POssibility 1: It has completed Wave A and now is in the process of wave 2 of Wave B...so there should be a rise from here to approx 4500 to complete Wave B...after that we are heading down again to start Wave C...which might go lower than the years low...
Possibility 2: We are yet in the process of completing Wave A, which might or might not have been concluded...after which we will head up again for Wave B...
Reliance - this has completed wave 2 of Wave B...or so it seems. It might rise upto 2600 or so levels from here, which should be taken as an exit oppurtunity, coz after that the Wave C will head down again.
Bajaj Hind: In its last leg of correction....difficult to say where it will bottom out...but the 70-90 levels seems good for a long term uptrend
P.S. - These are just possibilities based on Elliot wave theory...and in no way should be seen as an investment advice. It should be used only for direction rather than for entry or exit...
